Given That the Sum of Squares for Error Is 60

question 1

Multiple Choice

Given that the sum of squares for error is 60 and the sum of squares for regression is 140,then the coefficient of determination is:

• A)0.429
• B)0.300
• C)0.700
• D)None of these choices.

---

Definitions:

Household Spending

This refers to the total amount of money spent by households in an economy on goods and services over a particular period of time.

Net Exports

The value of a country's total exports minus its total imports, a crucial component of the gross domestic product.

Crowding Out

An economic phenomenon where increased government spending reduces private sector investment or consumption due to higher interest rates.

Interest Rate

The percentage charged on a loan or paid on savings, representing the cost of borrowing or the gain on saved funds.